EFTA Document EFTA01379447

11 December 2017 Special Report: EMFX Outlook 2018: Growth'led Revaluation kRV: The currency goes into next year with tailwinds from strong data and expectations of further policy tightening. The current account should benefit from improvement in shipbuilding orders, and the impact of relations normalizing with China on the services deficit - and while the overall surplus might decline, the adjustment would likely be gradual. Equity valuations are still supportive and trade policy relat